Beazley Insurance Company, Inc., a hospital professional liability insurer, published a report earlier this week that captures the state of medical malpractice claims in the United States. The insurance company found that there’s been a significant increase in $5 million and over claims in the past four years. They also noted that the per-claim demand for all claims has increased by around 50% during the last decade.
The head of focus groups for U.S. hospitals at Beazley discovered that the average per claim payout in 2018 was a staggering 6% higher than the 2017 amount. There was another single-digit increase every other year for the past decade as well. This is what has made for a 50% increase over the past 10 years. Claims that were settled for $400,000 in 2009 are now being resolved for $600,000.
There has been an increase in demands for larger sums of money as compensation in cases over the past decade as well. The percentage of $5 million or higher claims that were filed between 2011 and 2014 was 1.2%. That number increased to 1.9% during the 2015-2018 period. This is significantly higher than the less than 1 percent of claims that were filed during the earlier part of the century.
Many hospitals have found themselves having to take out increased medical liability coverage in recent years to compensate for higher plaintiff demands. These costs then get passed on to hospital consumers, the patients. You shouldn’t let this deter you from holding your doctor or your medical team accountable for their wrongdoing though.
A hospital negligence attorney in Queens can explain how filing suit against your health care provider may send a message to them that they have to be more accountable for their actions. It also serves as a way for you to recover the necessary compensation you need to pay for your medical care here in New York.